I will often duplicate a sequence in order to make a new version before making major changes - keeping the workflow nondestructive.
I don't recall ever leaving the default name "[sequence name] Copy", and will usually proceed to change the word "copy" with the version. It would be extremely useful if instead of "copy", Premiere would name our duplicated sequences based on number - so even if I named my sequence "rough cut 3", it will proceed to name the duplicate "rough cut 4".
Perhaps one would be able to modify this behavior in the settings as well.